Mastering India’s Insolvency Code: Why This NCLT Judge’s Course is a Game-Changer 

LiveLaw Academy has launched a comprehensive online course, “Mastering the IBC: Principles, Practice & Commercial Wisdom,” taught by former NCLT Judicial Member Rajasekhar V.K., which provides a critical, practice-oriented deep dive into India’s Insolvency and Bankruptcy Code (IBC) from the unique perspective of a seasoned adjudicator. The course moves beyond statutory interpretation to explore the systemic philosophy of the IBC—focusing on time-bound resolution, the non-justiciability of commercial wisdom exercised by creditors’ committees, and the principles of judicial restraint and finality. Designed for lawyers, financial professionals, and insolvency practitioners, the program dissects the entire lifecycle of insolvency proceedings, equipping participants with the jurisdictional reasoning and practical insights needed to navigate this complex field effectively, based on the instructor’s firsthand experience of adjudicating over 6,000 matters.

Mastering India’s Insolvency Code: Why This NCLT Judge’s Course is a Game-Changer 

The Insolvency and Bankruptcy Code isn’t just a law—it’s a paradigm shift that moved India from “debtor-in-possession” to “creditor-in-control,” making time the most valuable asset in the room. 

India’s Insolvency and Bankruptcy Code (IBC), enacted in 2016, represents one of the most significant financial and legal reforms in recent history. LiveLaw Academy has launched a groundbreaking online course titled “Mastering the IBC: Principles, Practice & Commercial Wisdom,” led by former National Company Law Tribunal (NCLT) Judicial Member Rajasekhar V.K. This comprehensive 14-session program provides a unique window into the intricate workings of insolvency law from someone who has shaped its application from the bench. 

The IBC Revolution: Beyond Mere Legislation 

The IBC was designed as a comprehensive response to systemic failures in India’s previous debt recovery mechanisms. Before its enactment, India ranked poorly in global ease of doing business indices, particularly in resolving insolvency. The Code introduced a time-bound resolution process, fundamentally shifting the balance from debtors to creditors while protecting the value of distressed assets. 

The law’s preamble outlines a prioritized sequence of objectives: ensuring insolvency resolution in a time-bound manner, maximizing asset value, promoting entrepreneurship, ensuring credit availability, and balancing stakeholder interests. The significance of this order cannot be overstated—as noted by the NCLAT, this sequence is sacrosanct, establishing clear priorities for the entire insolvency ecosystem. 

Why This Course Matters Now 

The IBC has matured beyond its initial implementation phase, developing a substantial body of case law and jurisprudence. However, many practitioners find themselves navigating this complex landscape with only a statutory understanding of the Code, lacking insight into the “why” behind tribunal decisions and the practical boundaries of resolution planning. 

This course bridges that critical gap between statutory theory and courtroom reality, focusing particularly on the elusive concept of “commercial wisdom”—the principle that protects the business decisions of creditors from judicial interference unless they violate specific statutory requirements. 

Meet Your Instructor: Judicial Experience You Can’t Find Elsewhere 

The course’s greatest strength lies in its instructor’s unique vantage point. Rajasekhar V.K. brings nearly four decades of multifaceted experience across judicial office, insolvency litigation, corporate law, and public service. 

His judicial credentials are particularly impressive: 

• Former Judicial Member of the NCLT, presiding over benches at Mumbai, Kolkata, Cuttack, and Allahabad 

• Disposed of more than 6,000 matters, including substantial IBC jurisprudence under both the Insolvency Code and Companies Act, 2013 

• 18 years with the Ministry of Corporate Affairs, contributing to key institutional initiatives including the National Foundation for Corporate Governance and MCA21 e-governance programme 

• Prolific writer and speaker on insolvency law, with published work in LiveLaw and other leading publications 

This combination of judicial, administrative, and academic perspectives provides students with a three-dimensional understanding of insolvency law that few other instructors can offer. 

Course Structure and Key Learning Areas 

The course is designed as an intermediate masterclass structured over 14 bi-weekly sessions totaling 28 hours of instruction, beginning January 31, 2026. Participants will be guided through the complete lifecycle of insolvency proceedings—from entry into the Corporate Insolvency Resolution Process (CIRP) to resolution planning, liquidation, and post-approval finality. 

Core Curriculum Highlights: 

The curriculum specifically addresses critical questions that practitioners face daily: 

• Why does the IBC privilege the commercial wisdom of the Committee of Creditors over judicial discretion? 

• Where does judicial review stop, and why must tribunals exercise restraint? 

• What makes a resolution plan legally compliant but commercially sound? 

• Why does the Supreme Court uphold certain resolutions while striking down others? 

The Critical Concept of Commercial Wisdom 

One of the course’s central themes is the non-justiciability of commercial wisdom exercised by the Committee of Creditors (CoC). This principle, established in landmark Supreme Court decisions like K. Shashidhar v. Indian Overseas Bank and Essar Steel, holds that financial creditors—being best acquainted with the corporate debtor’s position—should have their collective business decisions respected by tribunals. 

The courts have consistently maintained a “hands-off approach” toward CoC decisions, intervening only when plans contravene specific statutory requirements under Section 30(2) of the Code, such as ensuring fair and equitable treatment of operational creditors. This delicate balance between creditor autonomy and statutory compliance forms a core component of the course’s practical focus. 

Who Will Benefit Most From This Course? 

The program is designed for a diverse range of professionals working within or adjacent to India’s insolvency ecosystem: 

• Legal Professionals: Practicing lawyers, law firm partners and associates seeking to deepen their insolvency litigation or advisory capabilities 

• Financial Sector Professionals: Banking and finance professionals involved in credit decisions or distressed asset management 

• Insolvency Practitioners: Resolution professionals looking to enhance their strategic understanding of the IBC framework 

• Corporate Advisors: Chartered accountants, company managers, and in-house counsel navigating corporate distress scenarios 

• Academic and Investment Communities: Law students, entrepreneurs, and investors seeking a structured understanding of insolvency law in practice 

Practical Course Details 

For those considering enrollment, here are the essential details: 

• Start Date: 31 January 2026 

• Duration: 28 hours over 14 bi-weekly sessions 

• Schedule: Saturdays and Sundays, 5:00 PM – 7:00 PM (1.5 hours lecture + 30 minutes Q&A) 

• Format: Live online sessions with recording access for 6 months 

• Investment: ₹5,999 (inclusive of GST and gateway fees) 

• Certification: Yes, upon completion 

The expected completion date is 21 March 2026, providing participants with a comprehensive foundation in insolvency law within a focused two-month period. 

Why This Course Stands Apart 

Several factors distinguish this offering from other IBC courses: 

• Judicial Perspective: Learning from someone who has actually decided IBC cases from the bench provides insights unavailable in purely academic or practitioner-led courses. 

• Case-Driven Methodology: The course emphasizes real-world case analysis, helping participants understand why courts protect certain resolutions while striking down others. 

• Systemic Thinking: Rather than approaching insolvency as a recovery exercise, the program examines it as a system shaped by time sensitivity, commercial discretion, and judicial restraint. 

• Practical Application: Participants will gain skills in applying jurisdictional reasoning to admission, moratorium, CoC decisions, and judicial review—competencies immediately relevant to their professional practice. 

The Bigger Picture: IBC’s Role in India’s Economic Landscape 

As Justice N.V. Ramana observed, bankruptcy and insolvency laws have far-reaching implications across banking, employment, and company law, ultimately affecting the broader economy. The IBC serves a crucial market-clearing function, ensuring that non-viable businesses don’t occupy market space indefinitely. 

This course helps professionals understand not just the mechanics of the Code but its systemic purpose—balancing private interests with broader societal considerations while promoting a culture of credit and entrepreneurship. In doing so, participants gain not just legal knowledge but a framework for thinking about distressed businesses and assets that serves both their clients and the larger economy. 

Conclusion: A Timely Investment in Specialized Knowledge 

India’s insolvency landscape continues to evolve, with significant cases regularly shaping interpretation and application of the Code. For professionals operating in this space, specialized, practical knowledge has become increasingly valuable. 

The “Mastering the IBC” course offers a unique opportunity to learn from judicial experience that has directly shaped the Code’s implementation. Whether you’re a lawyer seeking to enhance your insolvency practice, a finance professional dealing with distressed assets, or an advisor navigating corporate restructuring, this program provides the jurisdictionally disciplined, commercially informed understanding needed to navigate India’s insolvency framework effectively. 

As the IBC approaches its first decade, its complexities have matured beyond initial implementation challenges into nuanced questions of commercial judgment, judicial boundaries, and systemic efficiency. This course arrives at precisely the right moment to equip professionals with the sophisticated understanding required for the next phase of India’s insolvency evolution.